Smart Retail Market

Analysts at GMI Research estimates that the Smart Retail Market was worth USD 23.5 billion in 2021, and forecast to touch USD 142.8 billion in 2029, growing at a significant higher CAGR of 25.3% from 2022-2029.

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Key Drivers

Major factors driving the growth of the smart retail market include a rise in the use of smart phones, and ‘free’ availability of mobile retail application. For instance, in March 2018, Verifone Holding Inc launched Carbon Mobile 5, which brings commerce, payment, and mobility under one portable device. Moreover, companies are investing in smart retail market solutions and are introducing /developing innovative technologies such as Beacons, AR, VR, IoT etc. For instance, Beacon is the device that works on Bluetooth, a low-energy Bluetooth connection, which gives notification about discounts, offers, etc. to the customers whenever they are within a Bluetooth coverage area. Also, the beacon provides indoor navigation of the store and collects information about customer behaviour. Such type of technology is driving the smart retail market because they provide faster and smarter way of shopping. However, the threat of data security and lack of privacy of retailers and customers are hindering the market growth.

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Top Market Players

Various notable players operating in the market include Intel Cooperation, IBM Cooperation, Microsoft Cooperation, Google, NVIDIA, Amazon Web Services, Samsung Electronics, CISCO Systems, Par Technology, and others. Many major players like Amazon, are focusing on IoT technology. Amazon started a new store named as Amazon Go, which requires no checkout as it detects automatically when products are taken from and returned to shelves and updates the virtual cart accordingly.

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Segments covered in the Report:

The Global Smart Retail market has been segmented on the basis of Technology, application and key geographies. Based on Technology, the market is segmented into Wi-Fi, Smart Bluetooth, Zigbee, LAN etc. On the basis of application, the market is categorized into Robotics, Analytics, Smart Cart, Smart Payment Systems, Smart Labels, AR/VR, Visual Marketing, Indoor Marketing, Smart Vending Machine etc. Based on geographical region, North America, Europe, Asia Pacific and rest of the world.

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Key questions answered in this research report

• • At what pace is the smart retail market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the hearing implants market?
  • What are the various application areas and how they are poised to grow?

Market Segmentation

Global Smart Retail Market by Technology

• • Wi-Fi
  • Bluetooth
  • LAN
  • Zigbee
  • Others

Global Smart Retail Market by Application

• • Smart Payment Systems
  • Smart Labels
  • AR/VR
  • Intelligent Vending Machine
  • Data Analytics/ Artificial Intelligence
  • Smart Cart
  • Visual Marketing
  • Indoor Navigation
  • Others

Global Smart Retail Market by Region

• • North America Global Smart Retail Market (Option 1: As a part of the free 25% customization)
    • By Technology
    • By Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Global Smart Retail Market (Option 2: As a part of the free 25% customization)
    • By Technology
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Global Smart Retail Market (Option 3: As a part of the free 25% customization)
    • By Technology
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Global Smart Retail Market (Option 4: As a part of the free 25% customization)
    • By Technology
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Leading market players

• • Intel Cooperation
  • IBM Cooperation
  • Microsoft Cooperation
  • Google LLC
  • NVIDIA Cooperation
  • Amazon Web Services
  • Cisco Systems
  • Samsung Electronics
  • Par Technology
  • Verifone Holding, Inc.

*Other prominent players in the market which can be profiled as a part of customization:

• • NXP semiconductors
  • Bosch Group
  • Broadcom Limited
  • Analog Devices
  • Honeywell International Inc.
  • Walmart Inc.